The U.S. dollar surged to a one-week high against the Japanese yen following higher-than-expected inflation data, sparking concerns about delayed Federal Reserve rate cuts. Global stock markets showed mixed reactions, with the S&P 500 closing lower on Wednesday but futures indicating modest gains on Thursday.
In Asia, Indian markets demonstrated resilience, with the Nifty recovering 250 points from its intraday low. Prime Minister Modi’s diplomatic visit to the U.S. is being closely monitored for potential strategic outcomes. Australian markets opened slightly higher, while futures for Japanese and Hong Kong indices rose.
The euro gained support from news of potential U.S.-Russia peace talks regarding Ukraine, and gold prices edged higher as investors awaited further inflation data and monitored trade tensions.
